How will aged care affect your family?

Naturally, when investigating options for an elderly person, finding the right level of care is crucial, as is anticipating future care requirements and planning for them. Given a choice, most people would prefer to remain in their own homes and the government has committed to ensuring that home care resources will be gradually increased over […]

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Aged care costs in perspective

Putting aged care costs into perspective – a story A growing number of Australians are encountering the challenges of assisting elderly relatives with the move into aged care. One of them was a new client of ours, let’s call him Rob. Recently, he had to help his formerly active 78-year-old mother, Mary, with the painful […]

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Have you set up a Power of Attorney?

Don’t forget these important documents What would happen if you were physically unable to sign important documents or became mentally incapable of making key decisions? This is when a Power of Attorney becomes a vital tool in managing your life – when you are unable to. Put simply, a Power of Attorney is a legal […]

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How the family home can affect aged care fees

One of the key tasks for anyone assisting an elderly relative with the move into aged care is to investigate the various fees and charges, some of which are subject to both assets and income means tests. As the family home is often the largest asset and can be a source of income if rented […]

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Aged care: levels and fees

Levels of care Care options include in-home care and residential care providing standard accommodation and personal services. Residents pay for optional additional services. In-home Care Four levels of care: Basic Low level Intermediate High Best suited for Elderly person/s capable of living safely and independently in their own home. What it includes Actual services included […]

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What is your aged care funding strategy?

According to the Australian Bureau of Statistics, in 2017 almost 3.8 million Australians were aged 65 and over. Consider for a moment: this figure shows those people contemplating aged care for elderly family members are fast approaching the age when they’ll need it themselves. Sobering thought. What this means is that as aged care becomes […]

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Aged Care Planning: Assessment

The first step – Assessment Illness, disability or the passing of the years can make it difficult for you or your loved one to maintain an independent lifestyle. The ideal is to remain in one’s own home for as long as is reasonable and safe, but knowing when independence is no longer feasible is the […]

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Do you know who gets your Super?

Who decides what happens to your superannuation savings when you die? You may think that you do, but that isn’t always the case. The ultimate decision may be made by someone you don’t even know – the trustee of your superannuation fund. Let’s look at how you can have greater control.   BINDING DEATH BENEFIT […]

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Protect yourself through superannuation

The attractiveness of superannuation as an investment and savings vehicle is well known. As we mentioned earlier, although the federal government places limits on the amount of tax-effective contributions we can make, the ability to structure insurance arrangements through super remains.   HOW DOES INSURANCE THROUGH SUPER WORK? The types of insurances considered here are […]

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Super: It’s not really a sacrifice

Coins stacked with a clock in the background

If you are earning more than you need to live comfortably, salary sacrificing may be an attractive option to reduce your tax, boost your superannuation and prepare for a more comfortable retirement later on. Salary sacrificing simply involves having part of your salary paid into a superannuation fund by your employer rather than receiving it […]

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